WALL STREET: The Standard & Poor's 500 index rose 20.31 points, or 0.8 percent, to 2,453.46 and surpassed its old record, set nearly a week ago, by half a percent. The Dow Jones industrial average added 144.71 points, or 0.7 percent, to 21,528.99, and the Nasdaq composite jumped 87.25, or 1.4 percent, to 6,239.01.

THE QUOTE: "The rally in U.S. markets reflects a situation where investors are being given no reason to sell. By the same token, valuations are full. Markets have been relatively capped, struggling to re-establish a strong uptrend," says Ric Spooner, chief market analyst at CMC Markets in Sydney.

CHINA WATCH: Investors are closely watching the MSCI decision on China A-share inclusion to indexes, expected later in the day. Speculation has been growing that MSCI might include Chinese shares to its benchmark.

CURRENCIES: The dollar rose to 111.65 yen from 111.12 yen late Monday in Asia. The euro fell to $1.1156 from $1.1194.

ENERGY: Benchmark U.S. crude added 7 cents to $44.50 a barrel. It fell 54 cents to $44.43 per barrel overnight. Brent crude, the international standard, rose 11 cents to $47.02 a barrel.

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AP Business Writer Stan Choe contributed from New York.

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